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More than 90% of QNB customer interface already digitised: Group CEO

More than 90% of QNB customer interface already digitised: Group CEO

May 29, 2022 | 07:56 PM
Abdulla Mubarak al-Khalifa, QNB Group Chief Executive Officer.
More than 90% of QNB’s customer interface has already been digitised helping Qatar’s top bank “to achieve the highest levels of satisfaction and security,” said Abdulla Mubarak al-Khalifa, QNB Group Chief Executive Officer.In his keynote address at the Euromoney Qatar Conference yesterday, al-Khalifa said as part of its group-wide strategy, QNB defines innovation as a strategic enabler to identify new sources of revenue and create cost-saving opportunities.“We believe that innovation requires us to be more creative and flexible to respond to the complexities of the new normal. We are working to use and benefit from the latest technologies to provide digital banking services with a human touch. From this standpoint, we consider ourselves pioneers in digital transformation.”He noted that the Covid-19 pandemic has caused significant challenges around the world.The unprecedented monetary and financial support measures taken by central banks and governments contributed to providing support to the global economy and enabled it to weather the storm and achieve recovery.He said the State of Qatar has also taken many measures to protect its economy and society in order to reduce the impact of this global shock. As a result, the impact of the pandemic has been limited. “Thanks to the effective management and support provided by the Government of the State of Qatar and the Qatar Central Bank, our banking sector enjoys flexibility and quality, with high levels of capital, liquidity, assets and profitability,” he said.As a result, he noted Qatar's economic performance is strong and its future prospects are stable. The Qatar National Vision 2030, backed by a massive programme of infrastructure development and investment spending, aims to transform the country into a knowledge-based economy.“The State of Qatar is actively working to enhance the contribution of the private sector and is making every effort to ensure the success of hosting the FIFA World Cup 2022.”Qatar has one of the largest natural gas reserves in the world and is the main exporter of liquefied natural gas. Qatar decided to increase its production by 64% by 2027 through the expansion of the North Field. This will ensure the continuity of achieving growth in the country in the medium and long term.Al-Khalifa noted, “QNB Group was also able to overcome the challenges of the pandemic, as we continued to adhere to our goal of promoting prosperity and sustainable growth for our shareholders and communities.“Thanks to these efforts, we achieved a strong financial performance in 2021, and remain the largest financial institution in Qatar and a leading banking and brand in the region.”In Qatar, QNB offers a full range of comprehensive banking services that focus on sectors such as public services, transportation and logistics in addition to projects related to hosting the World Cup and expanding the North Field.“We are also keen to play a major role in supporting the hosting of the World Cup. We aim to help facilitate all services related to payments and transactions in order to provide a seamless experience during the tournament. Our strategic partnership with FIFA is an opportunity to promote the QNB name. I believe this will help us strengthen our brand, image and reputation worldwide.“All these achievements confirm the success of the State of Qatar, the banking sector and QNB Group in overcoming the impact of the pandemic.”However, al-Khalifa said, “We acknowledge that the pandemic has changed our way of life both professionally and personally. We know that the world has become more volatile and uncertain. Our operating environment has also become more complex and the number of factors to be taken into account when making decisions has increased significantly.“The pandemic has led to structural, technological and cultural shifts in the economic and social landscape. We are now dealing with a new normal that challenges all the ways of working, communicating, and thinking we were accustomed to.“Customers are moving from physical interaction channels to remote channels, and this digital transformation is affecting the banking sector. In addition, the focus on sustainability, ESG, and climate change is expected to impact portfolios, balance sheets, and banking institutions' operations.”Al-Khalifa said, “Under the Qatar National Vision 2030, innovation plays an important role in transforming the economy. Since the pandemic, innovation and digital transformation have remained a key priority, helping to enhance productivity, cost efficiency, customer focus and ultimately increase profitability.”
May 29, 2022 | 07:56 PM